LFST LAWSUIT: The Law Offices of Vincent Wong Notify Investors of a Class Action Lawsuit Involving LifeStance Health Group, Inc.

New York, New York--(Newsfile Corp. - August 17, 2022) - The Law Offices of Vincent Wong announce that a class action lawsuit has commenced in the on behalf of investors who purchased LifeStance Health Group, Inc. ("LifeStance") (NASDAQ: LFST) . This lawsuit is on behalf of all purchasers of LifeStance common stock pursuant and/or traceable to the documents issued in connection with LifeStance's June 10, 2021 initial public stock offering..

If you suffered a loss, contact us at the link below. There is no cost or obligation to you.
https://www.wongesq.com/pslra-1/lifestance-class-action-submission-form?prid=30962&wire=5

Allegations against LFST include that the Company made materially false and/or misleading statements and/or failed to disclose that: (i) the number of virtual visits clients were undertaking utilizing LifeStance Health was decreasing as the COVID-19 lockdowns were being lifted, thereby flatlining LifeStance Health's out-patient/virtual revenue growth; (ii) the percentage of in-person visits clients were undertaking utilizing LifeStance Health was increasing as the COVID-19 lockdowns were being lifted, thereby causing LifeStance Health's operating expenses to increase substantially; (iii) LifeStance Health had lost a large number of physicians due to burn-out and, as a result, its physician retention rate had fallen significantly below the 87% highlighted in the initial public offering's registration statement, and LifeStance Health had been expending additional costs to onboard new physicians who were less productive than the outgoing physicians they were replacing; and (iv) as a result, LifeStance Health's business metrics and financial prospects were not as strong as the initial public offering's registration statement represented.

If you suffered a loss in LifeStance you have until October 11, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Vincent Wong, Esq.
39 East Broadway
Suite 304
New York, NY 10002
Tel. 212.425.1140
Fax. 866.699.3880
E-Mail: vw@wongesq.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/134193